2009 was the start of the global period of an economic contraction where we see multi national corporations take on a slump, abatement, bust, decline, depression, diminution, lull, pause, retreat, withdrawal, bankruptcy, collapse in their financial standings!

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Dec 17, 2008

Omnicom Group To Lay Off Roughly 3,500 Worldwide

Ad industry holding company Omnicom Group is prepping to lay off nearly 5 percent of its 70,000-person global workforce, per AdAge.

The trade pub's unidentified sources would not confirm which divisions or agencies would be affected by the cuts?which could ultimately affect 3,500 workers?

but BBDO is expected to take a large hit, given that it's Chrysler's agency of record (and the auto giant has been slashing its ad spend).

The news comes on the heels of another AdAge report that PHD, a media agency under Omnicom's umbrella, is shutting its Atlanta office and laying off 30 staff. It is unclear whether PHD's cuts are part of the larger layoff plan.